The Federal government has met its obligation to pensioners of treasury funded ministries, departments and agencies (MDAs).
The release of N16.67bn to the MDAs was made known by the National Pension Commission (PenCom) which cleared in the statement that the fund pertains to the payment of accrued pension rights to 2021 retirees of treasury-funded ministries, departments and agencies (MDAs).
PenCom stated that the Federal Government had earlier settled all arrears of accrued pension rights payments to the verified and enrolled retirees up to December 2020.
This payment puts behind the lingering outstanding accrued pension rights that was the bane of federal retirees which by this payment has rolled out a reinstatement of the old order of outstanding accrued pension rights.
Following the release of the accrued pension rights the funds are by rule paid to PenCom which afterwards will pay the accrued rights to the individual Pension Fund Administrators that will finally pay into the Retiree Savings Account of the pensioners.
